Three property agencies strike new partnership to battle competition
11 August 2014, PropertyGuru.com.sg
The move comes amid tough property market conditions.
More real estate agencies are joining strategic alliances to jointly market a larger pool of properties, helping to extend the reach of their agents and providing more choices to clients.
The latest companies to come together to form a bloc of 1,500 agents are C&H group, RE/MAX and M.O.R.E. Property group. Dubbed the REAL Alliance, the agencies have a combined history of more than 35 years.
The three founders responsible for this alliance, Kenneth Tan from C & H, Ken Lim from RE/MAX and Shawn Tan from M.O.R.E. Property first came together to sign an agreement on 1 April this year.
In a statement, the alliance said it will offer and create better opportunities for the industry in the current environment, which is dealing with tough government measures and lower sales volume.
Aside from joint marketing of projects, the alliance will provide a wider range of training options to upgrade the agents’ skills and equip them with real estate statistics and information that will differentiate them from their competitors. However, each agency will remain independent and autonomous on their own, the statement added.
Moving forward, the next phase of growth for the REAL Alliance involves embracing a larger number of agencies from all categories, including large, medium or smaller players.
Other recent partnerships in the industry included JLL’s 20 percent acquisition of PropNex Realty and the formation of Project Alliance Group (PAG), which saw OrangeTee, SLP International, Dennis Wee Realty and HSR International come together to boost their residential business.